Video Transcript:

Hi. Welcome to Video 5 of Module 4: Litigation Funding. My name is Joe Schepis.  I'm a Director of Pearsons Family Lawyers.  If this is the first module that you have seen of ours, I would strongly recommend and suggest that you visit Module 1.

Module 1 contains information on two videos of important action that you may need to take right now before you proceed any further. To do that, go to the Pearsons' YouTube Channel or visit our webpage.

If you're ready to talk about litigation funding, let's proceed.

What is litigation funding? Unless you've been involved in litigation you wouldn't know. What litigation funding is, essentially the court attempting to even the keel between parties who are involved in litigation.

As we all know after a long relationship or marriage and people separate, one party is usually left in financial control. Control of the income, control of the property and resources. That party has the ability to engage lawyers and to engage other experts like forensic accountants, real estate valuers, and the like to obtain the necessary information and advice they need to.

The other party may not be so lucky. They may be left without any income and without any resources. They are not in the advantageous position of being able to afford lawyers, and other experts. We all know that legal advice and legal representation especially litigation can be very expensive. What the court will do in this situation is order that the financially stronger party pay a sum to the other party to enable them to meet their legal costs and expenses.

Sometimes what the court does it might order that the financially stronger party actually pay for those expenses. For example that the parties agree on a forensic account to engage, to investigate and prepare an evaluation report on a business, to prepare evaluations of real estate and to otherwise get all the information that's necessary for the parties to negotiate or to litigate the matter through the court system.

Litigation funding is an avenue for the court to assist the financially weaker party to get access to the judicial system, legal advice, and the information they need to obtain the legal advice. Essentially, litigation funding is an interim measure designed to assist a financially weaker party though the litigation process. At the end of the day, when the court comes to look at a property [served] between the parties, the court can address those matters of any monies that are being paid and how those monies are being used.

That's the end of this video on litigation funding. If you're ready to proceed, go to Video 6 which will be about Centrelink benefits.

All our videos in this Youtube series can be found through the Pearsons Youtube Channel at http://youtube.com/pearsonslawyers or by visiting the Pearsons website at http://pearsonslawyers.com.au and following the links.

Alternatively, if you know that its simply time to see a Family Lawyer, please contact us for a free initial consultation. Please be advised that we must complete a conflict check so that we can only represent one party in a Family Law matter. So if your partner is watching this same Youtube series and engages our services before you do, we advise that we may not be able to talk to you.

Whatever it is that you choose, its our wish that throughout this Youtube series, you can finally gain a sense of certainty so that you know where you stand.

 

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